Fortescue Metals Group Ltd., the third biggest producer of iron ore in Australia, released its quarterly results today. Fortescue announced that it had reported a growth of 53% in its third quarter iron ore shipments. The company said that the increased shipment in the third quarter ended March was mainly attributable to the increased demand from steel mills in China. Fortescue also maintained its previous outlook for the full year 2010.

In its quarterly report, Fortescue Metals said that the total iron ore shipments in the third quarter were reported to 9.45 million tons, increasing by 53% while it was reported of 6.2 million tons in the same quarter last year. The shipments in March quarter were reported up by 4% comparing to the previous quarter ended December 2009. Fortescue said that the third quarter results came in line with the guidance of the company.

Fortescue said in its report that the total iron ore mined in the third quarter was reported of 10.4 million tons, increasing by 14% comparing to the second quarter of the fiscal. The Miner reported that the margins in the third quarter were also improved from the previous quarter.

Fortescue Metals also said that it is maintaining its production and shipping outlook for the full year. The company expects production of around 40 million tons for the full year 2010.